Bank of New York Mellon Corp Boosts Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Bank of New York Mellon Corp boosted its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 0.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 969,592 shares of the company’s stock after purchasing an additional 5,033 shares during the period. Bank of New York Mellon Corp owned approximately 0.79% of Phillips Edison & Company, Inc. worth $36,321,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp lifted its stake in shares of Phillips Edison & Company, Inc. by 0.3% in the 3rd quarter. State Street Corp now owns 7,068,684 shares of the company’s stock worth $267,289,000 after acquiring an additional 18,429 shares during the period. Geode Capital Management LLC lifted its stake in shares of Phillips Edison & Company, Inc. by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,190,836 shares of the company’s stock worth $120,347,000 after acquiring an additional 19,205 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Phillips Edison & Company, Inc. by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,094,331 shares of the company’s stock worth $78,977,000 after acquiring an additional 102,519 shares during the period. Duff & Phelps Investment Management Co. lifted its stake in shares of Phillips Edison & Company, Inc. by 50.1% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company’s stock worth $55,589,000 after acquiring an additional 492,160 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Phillips Edison & Company, Inc. by 5.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,108,716 shares of the company’s stock worth $41,810,000 after acquiring an additional 56,897 shares during the period. 80.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Mizuho reduced their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, February 25th. Finally, Wolfe Research upgraded shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Phillips Edison & Company, Inc. Price Performance

PECO opened at $35.95 on Friday. The stock has a market capitalization of $4.50 billion, a PE ratio of 71.90, a P/E/G ratio of 1.70 and a beta of 0.57. The firm’s fifty day moving average price is $36.49 and its 200 day moving average price is $37.40. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. On average, equities research analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be given a dividend of $0.1025 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.23 annualized dividend and a dividend yield of 3.42%. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 246.00%.

Phillips Edison & Company, Inc. Profile

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.